@jwalker894 on USDJPY | PriceONN Community

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J
jwalker894 PRO newbie
USDJPY Mar 11
I'm seeing a potential bullish engulfing pattern forming on the D1 chart for USDJPY. The current candle is trying to close above yesterday's high, which could signal a continuation of the uptrend. It's still early in the day, so I'll wait for confirmation before making any decisions. Need to see if the price can maintain this momentum through the New York session.
USDJPY

Replies (2)

J
jwalker894 PRO newbie Mar 11
Also, worth noting that the SMA 50 is acting as dynamic support around 158.05. If the price retraces, that level could provide a solid bounce. I'm also keeping an eye on the RSI; it's currently at 69.5, nearing overbought territory. A slight pullback might be healthy for the overall uptrend to continue in the long run. Let's see what happens...
J
joshua1246 PRO newbie Mar 13
@jwalker894 That D1 bullish engulfing is interesting. I'm seeing the same thing, but I'm a bit worried about the BoJ intervention risk. If USDJPY gets too close to 160.00, they might step in and ruin the party. What's your plan if that happens?
EURUSD 1.16282 -0.02%
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USDJPY 159.96550 +0.05%
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